FX and CFD margin trading

Trading with margin

With an Forex & CFD account at Questrade, you can trade currency
pairs as well as stock, commodity
and index contracts for difference (CFDs).

Margin requirements

The margin requirement for an FX or CFD position is based on the real time value of your position (in the currency of the account). It’s the amount required
to open and maintain a position.

Margin call

If your equity balance drops below your account’s total margin requirement (you
have negative
maintenance excess), a margin call will be issued for your account. Questrade will give you
the opportunity to satisfy the deficiency on a best effort basis. However, Questrade may
liquidate or close your positions if you fail to comply with the terms of the margin call,
including, in some cases, without notifying you first. The terms of a margin call are
determined
at the discretion of Questrade.

Currency pair

CAD margin rate

USD margin rate

AUD/CAD

3%

5%

AUD/CHF

6%

6%

AUD/CNH

28%

28%

AUD/CZK

13%

13%

AUD/DKK

13%

13%

AUD/HUF

13%

13%

AUD/JPY

6%

6%

AUD/MXN

6%

6%

AUD/NOK

6%

6%

AUD/NZD

6%

6%

AUD/PLN

13%

13%

AUD/SGD

13%

13%

AUD/TRY

28%

28%

AUD/USD

5%

3%

AUD/ZAR

28%

28%

CAD/CHF

3%

5%

CAD/JPY

3%

5%

CAD/MXN

3%

5%

CAD/NOK

3%

5%

CAD/PLN

10%

12%

CAD/SEK

3%

5%

CAD/TRY

25%

27%

CHF/CZK

13%

13%

CHF/HUF

13%

13%

CHF/JPY

6%

6%

CHF/MXN

6%

6%

CHF/NOK

6%

6%

CHF/PLN

13%

13%

CHF/SEK

6%

6%

CHF/SGD

13%

13%

CHF/TRY

28%

28%

CHF/ZAR

28%

28%

EUR/ AUD

6%

6%

EUR/CAD

3%

5%

EUR/CHF

6%

6%

EUR/CNH

28%

28%

EUR/CZK

13%

13%

EUR/DKK

13%

13%

EUR/GBP

6%

6%

EUR/HKD

13%

13%

EUR/HUF

13%

13%

EUR/ILS

6%

6%

EUR/JPY

6%

6%

EUR/MXN

6%

6%

EUR/NOK

6%

6%

EUR/NZD

6%

6%

EUR/PLN

13%

13%

EUR/RON

28%

28%

EUR/RUB

28%

28%

EUR/SEK

6%

6%

EUR/SGD

13%

13%

EUR/TRY

28%

28%

EUR/USD

5%

3%

EUR/ZAR

28%

28%

GBP/AUD

6%

6%

GBP/CAD

3%

5%

GBP/CHF

6%

6%

GBP/CZK

13%

13%

GBP/DKK

13%

13%

GBP/HUF

13%

13%

GBP/ILS

6%

6%

GBP/JPY

6%

6%

GBP/MXN

6%

6%

GBP/NOK

6%

6%

GBP/NZD

6%

6%

GBP/PLN

13%

13%

GBP/SEK

6%

6%

GBP/SGD

13%

13%

GBP/TRY

28%

28%

GBP/USD

5%

3%

GBP/ZAR

28%

28%

NZD/CAD

3%

5%

NZD/CHF

6%

6%

NZD/CZK

13%

13%

NZD/DKK

13%

13%

NZD/HUF

13%

13%

NZD/JPY

6%

6%

NZD/MXN

6%

6%

NZD/NOK

6%

6%

NZD/PLN

13%

13%

NZD/SEK

6%

6%

NZD/SGD

13%

13%

NZD/TRY

28%

28%

NZD/USD

5%

3%

NZD/ZAR

28%

28%

SGD/HKD

20%

20%

SGD/JPY

13%

13%

USD/AED

27%

25%

USD/CAD

2%

2%

USD/CHF

5%

3%

USD/CNH

27%

25%

USD/CZK

12%

10%

USD/DKK

12%

10%

USD/HKD

12%

10%

USD/HUF

12%

10%

USD/ILS

5%

3%

USD/JPY

5%

3%

USD/MXN

5.0%

3%

USD/NOK

5%

3%

USD/PLN

12%

10%

USD/RON

27%

25%

USD/RUB

27%

25%

USD/SAR

12%

10%

USD/SEK

5%

3%

USD/SGD

12%

10%

USD/THB

27%

25%

USD/TRY

27%

25%

USD/ZAR

27%

25%

ZAR/JPY

28%

28%

XAU/USD

22%

20%

XAU/AUD

23%

23%

XAU/GBP

23%

23%

XAU/EUR

23%

23%

XAU/CHF

23%

23%

XAU/JPY

23%

23%

XAG/JPY

23%

23%

Index Tracker

Margin Rate

METALS

Gold

3.50%

Silver

7.00%

Platinum

5.00%

Palladium

11.00%

US Copper

5.50%

ENERGY

WTI US Crude

8.00%

Brent UK Crude

7.50%

Heating Oil

6.50%

Gasoline US

8.00%

Gas Oil

7.00%

US Natural Gas

8.00%

CO2 Emissions

17.00%

AGRICULTURE

Corn

6.00%

Wheat

8.00%

Soybeans

5.50%

SOFTS

NY Sugar No. 11

8.50%

NY Coffee

10.00%

NY Cocoa

10.00%

Cotton

8.00%

MEATS

Live Cattle

4.50%

Index Tracker

Margin Rate

NORTH AMERICA

US 30 Wall Street

4.50%

US 500/SPX500

4.50%

US Tech 100 NAS/NAS100

6.00%

EUROPE, MIDDLE EAST & AFRICA

Belgium 20

15.00%

Denmark 20

15.00%

Denmark 20 Cap

15.00%

Denmark 25

15.00%

EU Stocks 50/ESTX50

15.00%

France 40

15.00%

Germany 30

15.00%

Germany Mid-Cap 50

15.00%

Germany Tech 30

15.00%

Italy 40

15.00%

Netherlands 25

15.00%

Norway 25

15.00%

Portugal 20

15.00%

South Africa 40

15.00%

Spain 35

15.00%

Sweden 30

15.00%

Switzerland 20

15.00%

UK 100

15.00%

UK Mid 250

15.00%

ASIA / PACIFIC

Australia 200

15.00%

Japan 225

15.00%

Hong Kong 40

15.00%

Region

Margin rate as low as

NORTH AMERICA

Canada

15%

US

20%

Europe

50%

ASIA / PACIFIC

Asia

50%

Australia

50%

Full transparency in our fees

We have nothing to hide—so we give you all the
information you need to understand what’s happening in your account and on your invoice.

Calculating margin

The margin requirement is dynamic and updates in real time. You can
view the margin requirement of a specific FX or CFD instrument on the trade ticket or by
clicking Account, and then navigating to Trading Conditions on the menu and searching a
specific instrument. The margin utilisation bar at the bottom of the trading platform
indicates the percentage of your cash balance reserved for your margin positions.

Margin call

If your margin utilisation exceeds 100%, your account is in a margin
call. To meet your margin call you need to deposit funds into your account and/or close
positions. Your platform will display pop-up messages when your margin utilisation reaches
100% and 150% to remind you of your margin call.

Automatic liquidation threshold procedure

When your margin use increases past a certain threshold, Questrade
will automatically liquidate your positions. This will occur automatically regardless
whether you have been notified of the margin call or are waiting for your deposit to be
completed into your account to satisfy the margin call. There may also be other market
conditions that also require us to immediately close positions to satisfy the margin call.

If your margin utilisation exceeds 200% or your account remains in a
margin call for 120 consecutive trading hours (5 consecutive trading days), all of your
open positions will be closed.

Associated risks

Trading FX & CFDs on margin carries a high degree of risk
because it allows you to speculate on currencies, commodities and indices on a highly
leveraged basis. Before trading FX & CFDs, we strongly recommend you read more about leverage
and risk.

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A Contract-for-Difference (CFD) is a financial derivative product that allows an investor to obtain economic exposure (for speculative, investment or hedging purposes) to an underlying asset, such as a currency, an index or commodity, without
acquiring ownership of the underlying asset.

Trading in over-the-counter (OTC) derivatives, including leveraged Foreign Exchange Contracts (FX) and Contracts-for-Difference (CFDs), is highly speculative and not appropriate for risk-averse
investors or those seeking security of capital. An account opened with Questrade Inc. allows you to trade currencies on a highly leveraged basis. A small adverse price change to the underlying asset can magnify the impact on the funds in your
account, potentially resulting in the total loss of your initial investment and any additional funds that you may deposit to meet margin calls.

Given the risk of losing your entire investment, speculating in the over-the-counter
(OTC) derivatives market should only be conducted with risk capital that if lost will not have a substantial impact on your financial well-being. Before making a decision to trade FX & CFDs, you should carefully consider all of the disclosures
in the account application and, in particular, you should evaluate the risk factors listed in the Risk Information Document for Derivatives provided to you upon account opening.

Should you decide to proceed with your investment,
you acknowledge that you will be trading only with risk capital or funds that you can afford to lose, and that the loss of such funds will neither jeopardize your present life-style nor future retirement. FX & CFD trading may not be suitable
for all customers, therefore ensure you fully understand the risks involved and seek independent financial advice if necessary.

Questrade is compensated for its services from the bid-ask spread.

Questrade, Inc. is a registered investment dealer, a member of the Investment Industry Regulatory Organization of Canada (IIROC) and a member of the Canadian Investor Protection Fund (CIPF), the benefits of which are limited to the activities
undertaken by Questrade, Inc.